Powell Investment Advisors LLC Invests $915,000 in ProShares UltraShort S&P500 (NYSEARCA:SDS)

Powell Investment Advisors LLC purchased a new position in ProShares UltraShort S&P500 (NYSEARCA:SDS) during the fourth quarter, Holdings Channel reports. The firm purchased 46,515 shares of the real estate investment trust’s stock, valued at approximately $915,000.

Other hedge funds also recently modified their holdings of the company. Capital Investment Advisory Services LLC bought a new position in ProShares UltraShort S&P500 in the fourth quarter valued at about $32,000. JPMorgan Chase & Co. grew its holdings in shares of ProShares UltraShort S&P500 by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 8,085 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 820 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of ProShares UltraShort S&P500 by 17.7% during the third quarter. Axxcess Wealth Management LLC now owns 10,970 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 1,650 shares during the last quarter. Simplicity Wealth LLC bought a new stake in shares of ProShares UltraShort S&P500 during the third quarter worth about $227,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of ProShares UltraShort S&P500 in the third quarter worth approximately $242,000.

ProShares UltraShort S&P500 Stock Up 1.9 %

ProShares UltraShort S&P500 stock opened at $18.85 on Monday. The stock’s 50 day moving average is $19.07 and its 200 day moving average is $20.57. ProShares UltraShort S&P500 has a one year low of $18.19 and a one year high of $28.39.

About ProShares UltraShort S&P500

ProShares UltraShort S&P500 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Index). The Index is a measure of large-cap the United States stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 United States operating companies and real estate investment trusts selected through a process that factors criteria, such as liquidity, price, market capitalization and financial viability.